tag:blogger.com,1999:blog-32776756.post7337920299117196002..comments2023-10-20T18:03:01.821+09:00Comments on GlobalTalk 21: Steel Partners Kicks Out Aderans BoardJun Okumurahttp://www.blogger.com/profile/00291478225274759649noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-32776756.post-84787528866341133432008-05-30T16:55:00.000+09:002008-05-30T16:55:00.000+09:00Why I'll have you know that I take a bath at least...Why I'll have you know that I take a bath at least once a week, like the old Boy Scouts Manual used to remind its members!Jun Okumurahttps://www.blogger.com/profile/00291478225274759649noreply@blogger.comtag:blogger.com,1999:blog-32776756.post-82256124215418013122008-05-30T12:14:00.000+09:002008-05-30T12:14:00.000+09:00Okumura-san and Herr Morén -Some of the other unwa...Okumura-san and Herr Morén -<BR/><BR/>Some of the other unwashed denizens of the blogoshere are having a lively discussion of the merits of yesterday's takedown over at Cassandra Does Tokyo:<BR/><BR/>http://nihoncassandra.blogspot.com/2008/05/bad-hair-day-for-aderans-management.htmlMTChttps://www.blogger.com/profile/04626942240117432624noreply@blogger.comtag:blogger.com,1999:blog-32776756.post-60988281550839095762008-05-30T10:32:00.000+09:002008-05-30T10:32:00.000+09:00Actually, Janne, I've thought it over, and you're ...Actually, Janne, I've thought it over, and you're right. So my original comment doesn't really make sense after all.<BR/><BR/>Sorry. My mind seems to be wandering a bit lately.Jun Okumurahttps://www.blogger.com/profile/00291478225274759649noreply@blogger.comtag:blogger.com,1999:blog-32776756.post-50451233882320943822008-05-30T07:39:00.000+09:002008-05-30T07:39:00.000+09:00That makes them a minority shareholder according t...That makes them a minority shareholder according to that definition too: shareholder holding less than 50% of the voting rights. I don't see what you mean, unfortunately.Jan Morenhttps://www.blogger.com/profile/06834641501438709866noreply@blogger.comtag:blogger.com,1999:blog-32776756.post-14320617274778409132008-05-29T19:17:00.000+09:002008-05-29T19:17:00.000+09:00Janne:Always good to hear from you. Now you have c...Janne:<BR/><BR/>Always good to hear from you. Now you have come up with a perfect definition of “minority”. But “minority shareholder” has meaning only within the proper context. Look at <A HREF="http://www.clickdocs.co.uk/glossary/minority-shareholder.htm" REL="nofollow">this definition</A>:<BR/><BR/><I>A shareholder holding less than 50% of the voting rights attached to the equity and accordingly subject to the control of another shareholder or group of shareholders with the majority. There is a further 25% threshold below which the minority can prevent special resolutions being passed.</I><BR/><BR/>Here’s <A HREF="http://www.bizadvisor.com/Minority.htm" REL="nofollow">an example</A> of its useage. And <A HREF="http://www.shareholderrights.co.uk/disputes_nf.htm" REL="nofollow">another</A>. In fact, these three Internet documents—all of them talking about minority shareholders in contrast to the majority shareholder—were the first ones to come up when I googled “minority shareholder”.<BR/><BR/>The Nomura strategist used the term outside of its proper context. In fact, a 26.7% stake should often be big enough to control a company where there are no other significant shareholders or cohesive group of shareholders, interlocking or otherwise. So what was the deal? The <I>Reuters</I> writer didn’t do the homework, that’s for sure.Jun Okumurahttps://www.blogger.com/profile/00291478225274759649noreply@blogger.comtag:blogger.com,1999:blog-32776756.post-17329032317070316052008-05-29T18:03:00.000+09:002008-05-29T18:03:00.000+09:00The largest shareholder is still a minority shareh...The largest shareholder is still a minority shareholder if it controls less than 50% of the company. The largest shareholder by definition holds a <I>plurality</I>, but needs more than half the shares to hold a <I>majority</I>.Jan Morenhttps://www.blogger.com/profile/06834641501438709866noreply@blogger.com